Steven Madden (NASDAQ:SHOO) Price Target Cut to $25.00 by Analysts at Piper Sandler

Steven Madden (NASDAQ:SHOO) had its target price trimmed by Piper Sandler from $35.00 to $25.00 in a research report report published on Friday,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

A number of other research analysts have also weighed in on the stock. Loop Capital cut their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Telsey Advisory Group decreased their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.83.

Steven Madden Stock Down 1.8 %

Shares of SHOO stock opened at $20.80 on Friday. The company’s fifty day simple moving average is $29.98 and its two-hundred day simple moving average is $39.20. Steven Madden has a 52 week low of $19.05 and a 52 week high of $50.01. The stock has a market cap of $1.51 billion, a P/E ratio of 8.85 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. On average, analysts anticipate that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 4.04%. Steven Madden’s payout ratio is 35.74%.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently modified their holdings of the business. Vest Financial LLC lifted its position in shares of Steven Madden by 41.8% during the first quarter. Vest Financial LLC now owns 80,010 shares of the textile maker’s stock worth $2,131,000 after purchasing an additional 23,587 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Steven Madden by 3,814.9% during the 1st quarter. GAMMA Investing LLC now owns 36,683 shares of the textile maker’s stock valued at $977,000 after buying an additional 35,746 shares in the last quarter. PharVision Advisers LLC purchased a new stake in Steven Madden in the 4th quarter valued at about $226,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Steven Madden by 12.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,667 shares of the textile maker’s stock worth $8,150,000 after acquiring an additional 21,270 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Steven Madden during the fourth quarter worth approximately $350,000. 99.88% of the stock is owned by institutional investors.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.